America Loses Ranking as #1 Economy
Its time to call B.S.
The only people who still believe that America has the #1 economy on the planet are those people who have not visited both the United States and China.
In what is bound to become the next great laughable bookkeeping scandal, the IMF ranks the US economy first with almost three times as much GDP as China.
In the great bookkeeping scandal of Enron, everyone who was walking around the offices and looking at the revenue figures produced by each segment, knew full well the company’s books were a lie. The same is true today as people walk around the offices of the United States and China, and look at the individual books of each business segment.
Walk around the malls and shopping centers of the United States and China. The United States malls are ghost towns. The China malls are buzzing with purchases.
Look at the housing industry in China. The prices are similar to the U.S. home prices, but the sales are tenfold.
In fact in almost every retail and life necessity, China is booming in sales while Americans are cutting back. Just one glance is all that is needed to know that the GDP figures cannot be correct.
Look at the infrastructure investments of the United States and China. New Speed trains , China yes, U.S. no. New convention centers and sports complexes, China yes, U.S. no. New interstate highways, China yes, U.S. no.
Look at manufacturing. China adds new manufacturing plants and international partners all the time. The U.S. manufacturing is nearly dead.
Look at Ship building and major construction projects. China has new sky scrapers in almost every large city. China has major ship building projects. China has a booming space program. U.S. has none of these.
When asking the experts…the same experts that cook the books now for the U.S., they will tell you that the technology sector is one of the major GDP segment.
Wikipedia lists the major segments as :
Taking a close look at electronics, in today’s market the key word is “Apple”. But if you look at Apple’s revenue, the main reason for the jump is ASIA! “In the Asia Pacific region, Apple’s revenue increased by 247% making up US$6.332b of total revenue.”
If you look at the rest of the categories, yes, the U.S. is strong in all of these categories, but notice that they are all being done OVERSEAS!
The United States is counting all of its overseas activities, including Middle East wars, Global oil drilling and mining, and every other segment as part of its own GDP.
If these activities are part of the U.S. GDP, then we are in essence stealing from these countries. If we are not stealing the product, then we are lying about our GDP.
Even with our current “cooked books”, China is rapidly catching the U.S. in GDP. It is most likely that once the U.S. loses its #1 GDP status that the truth about GDP will be uncovered and the history books rewritten.